Gravity reported preliminary 2024 revenue of KRW 501 billion on Feb 14, 2025, with tentative fourth-quarter revenue down 10.7% from a year earlier

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Feb 14, 2025, Gravity Co., a South Korean developer and publisher of online and mobile games, published unaudited preliminary results for the fourth quarter ended Dec 31, 2024, in a Form 6-K, the filing a company based outside the US uses to pass the SEC the news it has published elsewhere. The release gave tentative fourth-quarter consolidated revenue of KRW 130 billion and operating profit of KRW 16 billion, with revenue up 1.3% from the previous quarter and down 10.7% from a year earlier. The release said the results were prepared under International Financial Reporting Standards as issued by the International Accounting Standards Board. For all of 2024 it gave unaudited preliminary consolidated revenue of KRW 501 billion and operating profit of KRW 85 billion. Gravity said the 2024 figures were subject to revision and that final results would come in its annual report on Form 20-F, the yearly report a foreign company files with the SEC. Cash and cash equivalents and short-term financial instruments stood at KRW 553,202 million at Dec 31, 2024.1^,2^,3^,4^,5^,6^,7^,8^,9

Gravity credited the quarter’s result mainly to increased revenue from the launches of THE RAGNAROK in Southeast Asia and Ragnarok: Rebirth in Taiwan, Hong Kong and Macau, both on Oct 31, 2024, and of Ragnarok X: Next Generation in Japan on Nov 20, 2024. The release described Ragnarok Online as Gravity’s principal product, then commercially offered in 91 regions. Ragnarok Begins launched in Taiwan, Hong Kong and Macau on Feb 13, 2025, and Ragnarok M: Classic, a renewal of Ragnarok M: Eternal Love, launched in Southeast Asia on Feb 14, 2025. Ragnarok: Back to Glory, also known as Ragnarok: Rebirth, and PROJECT ABYSS received ISBN codes from the Chinese government on Dec 24, 2024 and Jan 21, 2025, respectively. In the release Gravity said Ragnarok 3, the sequel to Ragnarok Online, was being prepared for a global launch within 2026, and that Ragnarok Crush, a puzzle and tower defense mobile game, was set to launch worldwide except in China and Japan in the third quarter of 2025. It also said it had signed a publishing agreement with Kingnet Technology (HK) Limited for Nobunaga’s Ambition: The Road to the World, a tentative English title, a simulation mobile game based on Nobunaga’s IP, in Japan.10^,11^,12^,13^,14^,15^,16^,17

The annual report on Form 20-F that the release named as the source of final results was filed on Apr 25, 2025, and reported operating income of KRW 85.38 billion for 2024.8^,18^,19